JAKARTA. The Annual General Meeting of Shareholders (AGMS) of PT HM Sampoerna Tbk. (HMSP), Thursday (27/5/2021) agreed to distribute a portion of the company's net profit as a cash dividend for the 2020 financial year of IDR 72.8 per share.
With a total of 116,318,076,900 shares as of April 30, 2021, the total cash dividend will reach around IDR 8.46 trillion from the 2020 net profit of IDR 8.58 trillion. The amount of dividends is smaller than the amount distributed in 2019 amounting to IDR 13.93 trillion or IDR 119.8 per share, with a dividend payout ratio of 101.53%.
The decrease in the amount of cash dividends is in line with the decline in HMSP's revenue in 2020 which reached IDR 92.42 trillion, down 12.85% compared to 2019's revenue of IDR 106.05 trillion.
Sampoerna President Director Mindaugas Trumpaitis explained that the steps to overcome the Covid-19 pandemic through social restrictions have affected domestic demand. In addition, the decline in revenue was also due to an increase in excise tax on tobacco products by a weighted average of 24% and an increase in retail selling price (HJE) of 46%. These two factors have an impact on reducing the volume of the national tobacco products industry by 9.7% in 2020, as well as having an impact on the company's performance.
Currently HMSP is still leading the market with a share of 28.8% in 2020. (AM/LM)